This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


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strngbow View Drop Down
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Joined: 22/November/2004
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    Posted: 22/November/2004 at 8:05am

I obtained a student loan through OSAP 3 years ago.  I have been I full time student ever since, but have not reapplied to osap, because I wanted to finish school with as few debt headaches as possible.  Unfortunately I discovered in October that my debt was with a collection agency.  I was surprised, and learned that it was because I hadn't filled out my 'schedule 2' form (which I didn't know existed).  Now, rather than reduced debt headaches, I have creditors all over me.. The national student loans centre told me that 'they don't care' that i'm still a student and because it wasn't an error on their end, they're not willing to recall my loan..  Now I am working a ton in a low paying job, while still in school full time, so the fact that the credit agency is trying to recover the whole amount is comical considering that my monthly income isn't even enough to cover my rent and tuition payments.

I would appreciate some suggestions of how I should deal with this situation.. my current thoughts are:

- Try further to have the loans recalled (although no-one seems to care at the National Student Loans Centre)

- Offer small monthly payments.. although from what I understand they will still call me even if I am making payments, and any payments I make would just be coming out of my kraft dinner/mister noodles/hot dog budget.

Thanks
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momof2 View Drop Down
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Points: 792 		Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2004 at 9:55am

try going to the lender and see if they will recall your loan if you can pay the interest that is in arrears or if they will accept your schedule 2 form retroactive as they neglected to inform you that you were supposed to file this document.  it cant hurt.  worst they can do is laugh at you and say no, which is where you are now.

also, try writing an appeal to OSAP stating the problem and see if they will be flexible.  cc the letter to your mp and the head of the cfs (canada federation of students) and see if it gets you anywhere.  acknowledge the mistake and that you are willing to take responsibility for the problem ONCE YOU ARE FINISHED YOUR STUDIES.  tell the bank they can tack on the admin costs of recalling your loan and that you will pay the service charges and interest, but are unable to make payments while you are still a student.  hard for them to say no to a proposal where they recoup all their costs and by cc'ing your mp they may be inclined to act in your favour.

let us know how it goes.
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Fubar View Drop Down
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Points: 7 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Fubar Quote  Post ReplyReply Direct Link To This Post Posted: 23/November/2004 at 4:04pm

Call the NSLSC # 1-888-815-4514.

Ask to talk to the Canada Student Loans Program

If you are still in school you may be elligible to have your loans rehabilitated. This may mean that you make payment arangements for 6 months, but then once brought up to date your loan returns to NSLSC if you are qualified and you'll be elligbile for further funding if you want it.

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